RBS - Direct Line Conveyancing Panel Information

The key here is the caveat ‘more onerous’. You have to try and take an objective view as to whether the Terms relating to the RBS - Direct Line conveyancing appointment (or other terms for other lenders) are ‘more onerous’ than the UK Finance Lenders’ Handbook Conditions. Depending on the Terms you may need to provide details on your renewal form. If you are in any doubt please call your broker to discuss before completing the answer.

When a solicitor is acting for both RBS - Direct Line and borrower there is potential for conflicts to arise. You owe duties to both clients. All information received by you from your client is confidential and cannot be disclosed without the client’s consent. In the situation you find yourself in if the purchaser will not consent to the information being passed on to the lender the solicitor must cease to act for the RBS - Direct Line and it may well be prudent you to cease to act for the purchaser as well. You can not tell the RBS - Direct Line the reason for termination of the retainer over and above the fact that a conflict has arisen. The fact that you can no longer act should alert even the most somnambulistic of lenders that something is wrong with the borrower and/or purchase. The fact that you have disinstructed yourself should not affect your RBS - Direct Line conveyancing panel status.

RBS - Direct Line approved panel lawyers are bound by the Part II instructions relating to Transfer of Equity. These are set out in Section 16.3. First, your firm must approve the form of Transfer of Equity (which should be in the Land Registry's standard form) and, if RBS - Direct Line require, the deed of covenant on their behalf. You will need to check RBS - Direct Line CML Part 2 conditions to see if RBS - Direct Line have standard forms of transfer and deed of covenant. Please note that this requirement can change from one transaction to another so do check! Second,When drafting or approving a transfer, you should bear in mind that: although the transfer should state that it is subject to the mortgage (identified by date and parties), it need give no details of the terms of the mortgage; the transfer need not state the amount of the mortgage debt. If it does, the figure should include both principal and interest at the date of completion, which you must check ; there should be no statement that all interest has been paid to date. Further obligations are set out in the UK Finance Lenders’ Handbook which have to be followed by all firms on the RBS - Direct Line conveyancing panel

14 borrowers attempt to locate a solicitor on the RBS - Direct Line panel each month in Hendon. The lenderpanel directory service team who will show you how your firm can be listed by those searching for conveyancing in Hendon.

In this situation please explain on the application what action you have taken to discover the reasons behind cancellation of your RBS - Direct Line panel status. In particular please provide details if you have received communications from the lender. E.G. before cessation of your panel membership did you receive any letters or calls from the lender advising you as to their reasons?

You need to get in touch with RBS - Direct Line to obtain standard documents. The The Council of Mortgage Lenders Handbook contains a specific inquiry for banks to set out who to contact to obtain standard documents. RBS - Direct Line in their Part 2’s state: Don’t forget to disclose the firm’s RBS - Direct Line solicitors panel reference.